PrimeXM GmbH, a technology company specializing in forex bridging and execution software has launched a new bespoke service aimed at hedge and other managed funds services who require high speed, tight spread multi bank execution services for MetaTrader automated execution software.

“MetaTrader take up on the institutional side has, after a relatively slow start, begun to show increasing growth over the past eighteen months,” asserts Clive Diethelm, PXM’s CEO. “MetaTrader has become a de facto industry standard on the automated retail end of the cash forex market. Because of the number ready to go “expert” scripts MetaTrader has now become increasingly attractive to a growing number of institutions.

Until now, however an institution had to be very cautious about using MetaTrader, due to slippage and other execution related issues. PXM’s new Oyster service assigns him one of our account representatives to help obtain the best execution at price with a suitable Prime Broker. Since many funds will already have a Prime Broker relationship we can provide the bridge direct into the major banks via an existing PB relationship or help find a suitable FX Prime Broker if the relevant party does not have one.

The PXM Oyster representative will help to educate the relevant institution as to how to position themselves to obtain the best pricing. The software can be set up to execute in a number of different modes, depending on client demands. The service is not available to individuals and or those executing (in general) trade sizes of less than $1million," adds Diethelm.